Washington (AP) The Bush administration says it is bringing back the one-year treasury bill that it stopped issuing seven years ago when the budget was in surplus. Now the government needs it to cope with soaring budget deficits.
The administration says it will begin selling the one-year bill, also referred to as a 52-week bill, at an initial auction in June. New one-year securities will be auctioned every four weeks.
The government is looking for various ways to borrow the billions of dollars in extra cash it will need to cover a budget deficit that is expected to jump to an all-time high this year,
Surpassing the old mark of 413 billion dollars set in 2004.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.